If you have not updated your estate plan in the past few weeks or months, it may already be out of date. Many of the safeguards and tax-saving measures you put into place as a part of your estate plan may no longer be needed due to the extensive tax law changes -- the...
Month: January 2018
How will you pay for your long-term care?
Regardless of your age, you may have some concerns about needing long-term care assistance at some point in the future. It is never too soon to start planning for the future, but it can be too late. The cost of long-term care The average cost of a nursing home stay in...
Medicaid planning: Understand the basics
As people live longer, it's becoming increasingly common for families to struggle with Medicaid's rules regarding assets when a spouse or parent has to go into a nursing home. In order to preserve the family's assets for the other spouse or the parent's heirs, a lot...
Why should I have a power of attorney?
Many people put off creating a will or estate plan until late in life. After all, few people who are healthy and young want to consider their own deaths. However, there's no way to predict when a sudden, debilitating medical event like a stroke could strike. Car...
What you don’t know about estate planning can hurt you
Do you know what you would do if you were to suddenly become single? Whether due to death or divorce, are you prepared to take over all of the financial aspects of your life should you need to? According to the U.S. Census statistics, 59 is the average age of...
Do you need long-term care insurance?
The answer is that everyone should do long-term health care planning, but long-term care insurance is debatable. According to Colorado State University, 70 percent of people 65 or older will need some type of long-term care. It may be home care, adult daycare,...
Estate planning allows you to rest easy
There are a lot of good reasons to do estate planning. Unfortunately, many people put it off until tomorrow. But can we ever be sure we will have a tomorrow? Life is unpredictable. That is why estate planning is one of the best things you can do for yourself if you...
Michael Jackson’s estate may get lucky break with taxes
Estate administrators take notice: It doesn't matter if you're handling the assets of a virtually anonymous citizen or that of a celebrity like Michael Jackson, the government wants its cut. It generally doesn't pay to mess around with Internal Revenue Service agents....
Fighting family strife with an estate plan
The Tolstoy adage "Every unhappy family is unhappy in its own way" is not one you wish to have applied to your family if you can help it. If you have children who are estranged from each other or are unwilling or incapable of communicating with each other, your...
How much do you know about Colorado wills?
Each state has its own statutes and requirements for wills. It pays to know your state's requirements, or you can utilize the expertise of a Colorado estate attorney when drawing up your last will and testament. An illegitimate will could end up in probate court...
